President Bola Ahmed Tinubu marked Nigeria’s Democracy Day with a bold commitment to economic inclusion, announcing that over 400,000 young Nigerians will soon benefit from a government-backed consumer credit initiative.
The new credit scheme, expected to launch in July, will target young Nigerians, including members of the National Youth Service Corps (NYSC), with accessible financing that enables them to purchase essential goods and services. The plan is designed to help them build financial trust and participate more meaningfully in the economy
Consumer credit systems, which are critical to modern economies, have remained underdeveloped in Nigeria. President Tinubu described this initiative as a crucial step toward changing that reality.
He revealed that since the establishment of the Nigerian Consumer Credit Corporation (CREDICORP) less than a year ago, over 100,000 Nigerians—among them 35,000 civil servants—have already accessed credit to buy vehicles, improve their homes, and meet everyday needs.
“This July, we will launch a bold new initiative to empower 400,000 young Nigerians, including youth corpers, with consumer credit,” the President declared.
This announcement signals a growing focus on financial empowerment, especially for youth, as the government works to boost productivity and economic resilience in the face of national and global challenges.
